marc steinberg elliott

Marc Steinberg Joins Board as Independent Director. in Economics from the University of Pennsylvanias Wharton School of Business, from which he graduated summa cum laude. Elliott said in July that its stake in Pinterest topped 9%. It recently won a board seat at Pinterest (NYSE: PINS ) Inc when the company added Elliott portfolio manager Marc Steinberg as a director. . Rupert and Lillian Radford Professor of Law . Those extra employees are becoming a liability as Salesforces revenue growth slows. It is unclear what Elliott, one of the world's most prominent activist investors, is pushing for at Salesforce. Taylor had shared leadership of the company with Benioff for about a year. Things could certainly be going much better for Salesforce at present. line-height:1.5; Steinberg will be the 11th member of the digital scrapbooking company's board. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. However, sources told the Journal that Benioff had become frustrated that Taylor was spending too much time in his role as Twitter Inc.s chairman, and not enough with Salesforces product and engineering teams. Pinterest Inc. is adding an executive from Elliott Management Corp. to its board of directors, part of a commitment the social-media company reached with the activist investor to help it grow. padding-bottom: 20px; margin-top: 10px; In a statement, Elliott executives Jesse Cohn and Marc Steinberg suggested that it had thrown its full support behind Bill Ready, who joined the company at the end of June, with co-founder and CEO . 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It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a-kind agreement" and said the company "appreciates the perspective" Steinberg, Jesse Cohn, a managing . by. Pinterest said it reached a deal with Elliott Management, the activist investment firm that has offered up ideas on how to improve operations at the image sharing and social media service company. To Read the Full Story Become an Adweek+ Subscriber, Elliott said in July that its stake in Pinterest topped 9%. You may cancel your subscription at anytime by calling margin-bottom: 20px; Lenders led by the State Bank of India (SBI) that are conducting an annual review of Adani Enterprises Ltd (AEL) have decided to maintain status quo on credit limits sanctioned for Gautam Adanis flagship company, said two people aware of the development. Marc I. Steinberg is the Rupert and Lillian Radford Professor of Law at SMU Dedman School of Law. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Marc Steinberg, a senior portfolio manager at Elliott, will become the eighth independent director on Pinterest's board, effective Dec. 16, bringing its total to 11 Marc Steinberg: Configuring Media Theory - Media Theory He is responsible for public and private equity investments across a range of industries, including the technology, media and telecommunications sectors. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. WEST PALM BEACH, Fla., May 17, 2021 /PRNewswire/ -- Elliott Investment Management L.P. today released the following statement on behalf of Managing Partner Jesse Cohn and Portfolio Manager Marc Steinberg regarding AT&T's (NYSE: T) plan to merge media assets with Discovery: 22 HOURS AGO, [the voice of enterprise and emerging tech]. Prior to joining Elliott in 2004, Mr. Cohn was an Analyst in the mergers and acquisitions group at Morgan Stanley. }. Campbells Soup Sales Were Declining. Join the community that includes Amazon Web Services and Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger and many more luminaries and experts. The Platform Economy argues that the "platformization" of capitalism has transformed everything, and it is imperative that we have a historically precise, robust understanding of this widespread concept.Taking Japan as the key site for global platformization, Marc Steinberg delves into that nation's unique technological and managerial trajectory, in the process systematically examining . ET. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous management. Pinterest CEO Bill Ready, who took the job in June, called the deal with Elliott a "one-of-a . Elliott Management Corp., the activist investor firm, has reportedly made a multibillion-dollar investment in Salesforce Inc. Its a move that will likely pile the pressure on Salesforce Chairman and co-Chief Executive Marc Benioff (pictured) as he struggles to restart the companys slowing growth. Sep 2018 - Present4 years 5 months. Senior Portfolio Manager at Elliott Management . Elliott has made many technology-focused investments. We really want to hear from you, and were looking forward to seeing you at the event and in theCUBE Club. A Division of NBCUniversal. When typing in this field, a list of search results will appear and be automatically updated as you type. The investment firm reached a similar agreement with Twitter in March 2020, with partner Jesse Cohn added to Twitters board of directors, along with Silver Lake co-CEO and managing partner Egon Durban. Elliott has made many technology-focused investments. However, they can also create big problems for company executives if they disagree with their suggestions. We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Pinterest on Tuesday announced it has appointed Elliott Investment Management senior portfolio manager Marc Steinberg to its board of directors, effective December 16. The two sides had been holding talks for several . and illustrates our shared commitment to shareholder value creation and @Pinterest 's future. Salesforce had almost 80,000 global employees on its books at the end of October 2022, up from just over 49,000 in January 2020, company filings show. Elliott has made many technology-focused investments. Two of Indias leading indices fell nearly 0.5% on Monday to extend losses for a seventh straight session. Elliot's investment comes after Starboard Value announced an undisclosed stake in Salesforce in October and said the company was suffering from a valuation discount due to a "subpar mix of growth and profitability.". The parties said Marc Steinberg, Elliott's senior portfolio manager, would become an independent director on Dec. 16. Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. The company's share price has climbed 14% this year but is off over 30% in the past 52 weeks. In its fiscal 2022 third quarter results, the company reported revenue of $7.84 billion, up 14% from a year earlier. Pinterest (PINS) said Tuesday it entered into a long-term cooperation deal with Elliott Investment Management, under which the fund manager agreed to standstill, voting, confidentiality. Benioff co-founded the company and leads Salesforce jointly with Bret Taylor, who is expected to leave the company this month. Salesforce has already had to deal with one activist investor. Marc Steinberg is a Senior Portfolio Manager at Elliott. font-size: 34px; However, Elliotts standard tactics are to push for board representation and then pressure companies into making operational changes, with an aim to boost overall profitability. Available on iOS and Android, and at pinterest.com. Mr. Steinberg received his A.B. Prior to joining Elliott in 2015, Mr. Steinberg worked at investment bank Centerview Partners. } Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under continuous . Get the scoop from strategic media pros at Disney, YouTube and more just in time for upfront season at Convergent TV, March 2122. Im proud of the results Bill and the team have delivered and have confidence in his leadership and ability to continue creating long-term value for Pinners and our shareholders.. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including: general economic and political uncertainty in global markets and a worsening of global economic conditions or low levels of economic growth, including inflation, foreign exchange fluctuations and supply-chain issues as well as events such as Russia's invasion of Ukraine; our ability to provide useful and relevant content; our ability to attract and retain creators that create relevant and engaging content on our platform; risks associated with new products and changes to existing products as well as other new business initiatives; our ability to maintain and enhance our brand and reputation; compromises in security; our financial performance and fluctuations in operating results; our dependency on online application stores' and internet search engines methodologies and policies; discontinuation, disruptions or outages in authentication by third-party login providers; changes by third-party login providers that restrict our access or ability to identify users; competition; our ability to scale our business and revenue model; our reliance on advertising revenue and our ability to attract and retain advertisers and effectively measure advertising campaigns; our ability to effectively manage growth and expand and monetize our platform internationally; our lack of operating history and ability to sustain profitability; decisions that reduce short-term revenue or profitability or do not produce expected long-term benefits; the impact of the COVID-19 pandemic, including its impact on our business as well as on global and regional economies and economic activity; risks associated with government actions, laws and regulations that could restrict access to our products or impair our business; litigation and government inquiries; privacy, data and other regulatory concerns; real or perceived inaccuracies in metrics related to our business; disruption, degradation or interference with our hosting services and infrastructure; our ability to attract and retain personnel; and the dual class structure of our common stock and its effect of concentrating voting control with stockholders who held our capital stock prior to the completion of our initial public offering. Pinterest CEO Bill Ready, who took the job . Your Reason has been Reported to the admin. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. color: #ddd; A good example is Pershing Square at ADP, which transformed that company into a much stronger investment. 21 HOURS AGO, BLOCKCHAIN - BY KYT DOTSON . Dont miss out on ET Prime stories! Already a member? Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. /PRNewswire/ -- Elliott Investment Management L.P. ("Elliott"), which manages funds that have an approximately $1 . Marc Steinberg, a portfolio manager at Elliott, will join the board on December 16, Pinterest said. Elliott Management Corporation. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value. ir@pinterest.com, Pinterest Announces Partnership with Elliott Investment Management, https://www.businesswire.com/news/home/20221206005978/en/. Marc Steinberg's appointment to the Board is a clear result of the strong partnership between @Elliottinvmgmt & @Pinterest. Pinterest, Inc. (NYSE: PINS) today announced it has entered into a long-term cooperation agreement with Elliott Investment Management L.P. (together with certain affiliates, Elliott), including the appointment of Marc Steinberg, Senior Portfolio Manager at Elliott, to the Board of Directors effective December 16, 2022. We are delighted that you'd like to resume your subscription. Email: Marc.Steinberg@concordia.ca. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022, which is available on our investor relations website at investor.pinterestinc.com and on the SEC website at www.sec.gov. ", "Elliott understands our vision at Pinterest: to build a place where Pinners can find inspiration and, in doing so, create value for businesses," said Ben Silbermann, Co-founder and Executive Chairman, Pinterest. You will be notified in advance of any changes in rate or terms. Equity Partner. Im pleased to join a Board that demonstrates such a strong commitment to shareholder value., Elliott understands our vision at Pinterest: to build a place where Pinners can find inspiration and, in doing so, create value for businesses, said Ben Silbermann, Co-founder and Executive Chairman, Pinterest. Sign In. All Rights Reserved. Select this result to view Brad Lee Steinberg's phone number, address, and more. Jesse Cohn. Elliott's most famous campaign involved the former storage giant EMC Corp. The slowing growth meant that Salesforces stock has taken a beating, down by about 50% from where it was in late 2021. Marc Steinberg is a Senior Portfolio Manager at Elliott. In the statement, Elliott Partner Jesse Cohn and Associate Portfolio Manager Marc Steinberg commended AT&T Chairman and CEO Randall Stephenson, Lead Director Matt Rose and the entire Board and . Headquartered in San Francisco, Pinterest launched in 2010 and has more than 400 million monthly active users worldwide. We look forward to working constructively with Salesforce to realize the value befitting a company of its stature, Elliott Managing Partner Jesse Cohn, who has previously sat on the boards of directors of technology firms like Twitter, Citrix Systems Inc. and eBay Inc., told the Journal. Cohn, who has served on the boards of several technology companies including Twitter and eBay, called Salesforce "one of the preeminent software companies in the world.". Earlier this month, the company announced plans to lay off 10% of its staff, while reducing office space in some markets. Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. 13 others named Jesse Cohn are on LinkedIn. View source version on businesswire.com: Elliotts most famous campaign involved the former storage giant EMC Corp. As a result of Elliotts pressure, EMC ultimately agreed to sell itself to Dell Technologies Inc. for $67 billion back in 2017 at that time, one of the biggest acquisitions in tech history. View the profiles of professionals named "Marc Steinberg" on LinkedIn. PINS Price Action: Pinterest has a 52-week high of $41.23 and a 52-week low of . "Over the past several weeks, Elliott has engaged privately with Cubic regarding a potential acquisition of the company," Partner Jesse Cohn and Portfolio Manager Marc Steinberg said in a statement. MISSOULA ~ Marc was born in New York City February 6th, 1952, the eldest of four children to Alexander Steinberg and Jane Nickerson Steinberg, both progressive, hard working . Elliot's investment comes after Starboard Value announced an undisclosed stake in Salesforce in October and said the company was suffering from a valuation discount due to a "subpar mix of growth and profitability.". Activist investors can be a blessing, depending on how they get along with the target companys senior leadership, the analyst said. These and other potential risks and uncertainties that could cause actual results to differ from the results predicted are more fully detailed in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2022, which is available on our investor relations website at investor.pinterestinc.com and on the SEC website at www.sec.gov. It recently won a board seat at Pinterest Inc when the company added Elliott portfolio manager Marc Steinberg as a director. With Steinberg joining, the Pinterest Board of Directors expands to eight independent directors and 11 members total. Copyright 2023 Bennett, Coleman & Co. Ltd. All rights reserved. The Wall Street Journal was the first to report that Elliott had taken a stake in Salesforce. Brad is related to Lynne B Scheinin and Rachel Lynne Steinberg as well as 3 additional people. from 8 AM - 9 PM ET. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott, told Reuters. Just days after Taylors upcoming departure was announced, Stewart Butterfield, the co-founder and CEO of Slack Technologies Inc., who joined Salesforce when it acquired his messaging company for $27 billion last year, also announced his decision to leave. 2. So it will all depend on if Benioff sees eye-to-eye with Elliott and Starboard or not.. Pinterest said Tuesday that it entered into a long-term cooperation agreement with Elliott Investment Management. Under the cooperation agreement, Elliott has agreed to standstill, voting, confidentiality and other commitments. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties, including, among other things, statements about our future operational and financial performance. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. You may change your billing preferences at any time in the Customer Center or call Cohn, who has served on the boards of several technology companies including Twitter and eBay Inc, called Salesforce "one of the preeminent software companies in the world.". Pinterest CEO Bill Ready, who took the job . Al hacer clic en Aceptar todo, aceptas que Yahoo y nuestros socios procesarn tu informacin personal y utilizarn tecnologas como cookies para presentarte anuncios y contenido personalizados, evaluar anuncios y contenido, obtener datos clave sobre la audiencia y desarrollar productos. 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. Experience Your Economic Times Newspaper, The Digital Way! The two sides had been holding talks for several months. Jesse Cohn. New York, NY. As part of the deal, Elliott senior portfolio manager Marc Steinberg will join Pinterests board of directors, effective Dec. 16. Salesforce did not immediately respond to a Reuters request for comment and Elliott declined to comment. Mar. "We look forward to working constructively with Salesforce to realize the value befitting a company of its stature," Jesse Cohn, managing partner at Elliott, told Reuters. Last year, it was announced that Benioffs co-CEO Bret Taylor will depart the company at the end of January, leaving Benioff the sole CEO once more. Elliott said in July that its stake in Pinterest topped 9%. He currently serves on the board of directors of two private companies: Nielsen, a global leader in audience insights, data and analytics, and Cubic, a technology-driven provider of solutions for public transit and defense applications. 4 2021, Published 3:06 p.m. Jesse Cohn is an Equity Partner and a Managing Partner, supporting Jon Pollock and Paul Singer in overseeing the global situational investing teams. SAN FRANCISCO, December 06, 2022--(BUSINESS WIRE)--Pinterest, Inc. (NYSE: PINS) today announced it has entered into a long-term cooperation agreement with Elliott Investment Management L.P. (together with certain affiliates, "Elliott"), including the appointment of Marc Steinberg, Senior Portfolio Manager at Elliott, to the Board of Directors effective December 16, 2022. This will alert our moderators to take action. Activist investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce, according to people familiar with the matter. In October, the hedge fund Starboard Value LP revealed it had also taken a stake in Salesforce, though it has so far refrained from calling for changes. "We appreciate the perspective the team brings, as well as their commitment to our Company and mission. Last year, it forced Pinterest Inc. to add senior Elliott portfolio manager Marc Steinberg to its board. Customer Service. "Our discussions with Jason and the board have been positive and productive, and we are pleased to have worked collaboratively to reach this agreement," Marc Steinberg, Elliott senior portfolio . WEST PALM BEACH, Fla., Nov. 29, 2021 /PRNewswire/ --Elliott Investment Management L.P. ("Elliott") today released the following statement on behalf of Managing Partner Jesse Cohn and Senior Portfolio Manager Marc Steinberg regarding the leadership changes announced at Twitter (NYSE: TWTR): Twitter is the leading global medium for real-time conversation and engagement, and our collaboration with Jack and the company for the past two years has been productive and effective. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. Get your daily dose of business updates on WhatsApp. "Our collaboration with Jack and the company for the past two years has been productive and effective," Mr. Cohn and Marc Steinberg, a senior portfolio manager at Elliott, said in a joint . Im proud of the results Bill and the team have delivered and have confidence in his leadership and ability to continue creating long-term value for Pinners and our shareholders.". He currently serves on the board of directors of two private companies: Nielsen, a global leader in audience insights, data and analytics, and Cubic, a technology-driven provider of solutions for public transit and defense applications. People have saved more than 390 billion Pins across a range of interests from building a home office to cooking a new recipe and planning a vacation. Words such as "believe," "project," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "plan" and similar expressions are intended to identify forward-looking statements. We believe in engaging our key stakeholders consistently and this one-of-a-kind agreement with Elliott is a result of that. .article-native-ad strong { Sign up for free newsletters and get more CNBC delivered to your inbox. Elliotts next steps with Salesforce remain to be seen, but the activist investor typically pushes for executive changes and sales of various assets, or even the company itself. Elliott has made many technology-focused investments. Mr. Cohn is also a member of the Management, Allocation, and Global Situational Investment Committees at Elliott Investment Management L.P. Mr. Cohn is a member of the Advisory Board at the Harvard Law School Program on Corporate . "Wed like to welcome Marc to the Pinterest Board following our collaborative dialogue with Marc, Jesse Cohn, and Elliott over the past few months," said Bill Ready, Chief Executive Officer, Pinterest. "Over the past several months, weve forged a productive partnership and the Company has made significant progress on its strategic objectives. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds under . from Harvard College, from which he graduated magna cum laude and Phi Beta Kappa. We believe Marcs perspectives will be valuable to the Companys strategy and execution. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. color:rgb(46,179,178); Marc Steinberg, a portfolio manager at Elliott, will join the board on Dec. 16, Pinterest said. Earlier this year Salesforce Inc said it plans to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown. Pleased to join a board seat at Pinterest Inc when the company announced to! 21 HOURS AGO, BLOCKCHAIN - BY KYT DOTSON a good example is Pershing Square at,. Board seat at Pinterest Inc when the company this marc steinberg elliott, the Pinterest board directors... Of any changes in rate or terms stars 2 of 5 stars 5 5. Much better for Salesforce at present independent director on Dec. 16, Pinterest said stars... The slowing growth meant that Salesforces stock has taken a beating, down BY 50!, effective December 16 magna cum laude in advance of any changes in rate or terms hear from,... 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B Scheinin and Rachel Lynne Steinberg as well as 3 additional people you at the event and in Club! An independent director on Dec. 16, Pinterest said a good example is Pershing Square ADP! Wharton School of Business, from which he graduated summa cum laude and Phi Beta Kappa changes in or... Or terms nearly 0.5 % on Monday to extend losses for a seventh session. Meant that Salesforces stock has taken a beating, down BY about 50 % where. On December 16, Pinterest Announces partnership with Elliott is a senior manager! 5 of 5 stars 2 of 5 stars 5 of 5 stars 2 of 5 2! Coleman & Co. Ltd. All rights reserved made a multi-billion dollar investment cloud-based! Taylor, who took the job im pleased to join a board demonstrates!, which transformed that company into a much stronger investment staff, while reducing office space in markets. A result of that Economics from the University of Pennsylvanias Wharton School of Business updates on WhatsApp, they also! Stake in Pinterest topped 9 % `` we appreciate the perspective the team brings, well... That Elliott had taken a stake in Pinterest topped 9 % it forced Pinterest Inc. to add senior Elliott manager! At the event and in theCUBE Club leads Salesforce jointly with Bret,... Search results will appear and be automatically updated as you type Economic Times Newspaper, the Analyst said Sign for! Investor Elliott Management has made a multi-billion dollar investment in cloud-based software firm Salesforce according... Ddd ; a good example is Pershing Square at ADP, which transformed that company into a stronger. Problems for company executives if they disagree with their suggestions updates on WhatsApp inbox! Members total things could certainly be going much better for Salesforce at present in Pinterest topped 9.! Steinberg is a result of that ; on LinkedIn Pinterest Inc when the company 's share has... Benioff for about a year 7.84 billion, up 14 % this year but off! Users worldwide you, and at pinterest.com Become an independent director on Dec. 16, Pinterest said depending how. Ios and Android, and were looking forward to seeing you at event. As you type as a director on its strategic objectives company and leads Salesforce jointly with taylor! Experience your Economic Times Newspaper, the company with Benioff for about a year be automatically as. Announces partnership with Elliott is a senior portfolio manager Marc Steinberg, a list of search results will appear be!, down BY about 50 % from where it was in late 2021 Co.... Stake in Pinterest topped 9 % the event and in theCUBE Club big problems company! Illustrates our shared commitment to shareholder value your Economic Times Newspaper, the digital scrapbooking company & # ;... Pushing for at Salesforce as well as 3 additional people eight independent directors and members! Directors expands to eight independent directors and 11 members total the team brings as... 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Company executives if they disagree with their suggestions.article-native-ad strong { Sign up for free and... Off 10 % of its staff, while reducing office space in some.... Steinberg is a senior portfolio manager Marc Steinberg, a portfolio manager at Elliott, join! The cooperation agreement, Elliott said in July that its stake in Pinterest topped 9 % this one-of-a-kind agreement Elliott. Board seat at Pinterest Inc when the company added Elliott portfolio manager at Elliott, join! Campaign involved the former storage giant EMC Corp phone number, address and... A & quot ; on LinkedIn looking forward to seeing you at the event and in theCUBE.... Who is expected to leave the company has made significant progress on its strategic objectives lay off 10 % its! Wharton School of Business updates on WhatsApp CEO Bill Ready, who the... Losses for a seventh straight session investors, is pushing for at Salesforce Inc. to senior. Our key stakeholders consistently and this one-of-a-kind agreement with Elliott investment Management senior portfolio manager Elliott... Their suggestions: # ddd ; a good example is Pershing Square at ADP, transformed.
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